Ashurst strengthens PFI reputation with Durham, Sandwell BSF deals

Ashurst has sat on ­Carillion’s panel for PFI work for a number of years and has advised on all four BSF deals that Carillion has closed to date, advising both the lenders and Carillion itself. It has since been instructed on Rochdale BSF, which Carillion was ­recently appointed to as preferred bidder.

Partner Philip Vernon led the team advising on the Durham deal, which had a £50m debt tranche and £6.2m of equity, with senior associate Paul Angel ­assisting on the deal.

Vernon said both deals are expected to yield further work. “Once you’ve closed the primary deals there are subsequent deals under the umbrella agreements,” he commented.